Required information Problem 5-1A (Static) Perpetual: Alternative cost flows LO P1 [The following information applies to the questions displayed below.] Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Datel March 1 March 5 March 9 March 18 Sales Purchase Activities Beginning inventory Purchase Units Acquired at Cost Units sold at Retail 100 units 400 units $50 per unit $55 per unit 420 units 585 per unit March 25 Purchase March 29 Sales Totals 120 units 200 units $60 per unit $62 per unit 820 units 160 units $95 per unit 500 units Problem 5-1A (Static) Part 3 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. For specific identification, units sold include 80 units from beginning inventory, 340 units from the March 5 purchase, 40 units from the March 18 purchase, and 120 units from the March 25 purchase.